The heat treat and tempering process of a tool leaves a lot of internal stress in the part. This stress effects the cutting edge of the tool, how long it will hold its edge, basically how long it will last. The technical side of things goes something like this; After heat treat and tempering there remains stress in the part. This is referenced as retained austenite and martensite, they way the carbon interacts with ferrous metal. Having the two creates internal stress in the part. By cryogenic processing the metal you convert the austenite to martensite thus relieving this stress leaving a more stable material. Another way cryogenic processing reduces the stress in an object is by re-organizing the locations of the atoms within the structure. When you think about the heat treat process the atoms are not equally distributed through out the part. Think of a box of ping pong balls shuffled around most of the ball would be gathered together in a corner with a few a randomly arranged elsewhere. Cryogenic processing re distributes them equally with respect to each other. This is why processing of non ferrous metals in addition to thermoplastics and rubber gain in wear resistance.
Hope that answers your question as to what cryogenic processing is. As far as how to do it? The process is basically applying liquid nitrogen in a controller manner inside a container holding your part. Cryogenics had a rough early start, most people tried (and most failed) by simply placing there part in a bucket and pouring LN2 directly over the part. Even early processing chambers used spray elements to bathe the part in LN2. Imagine how you would feel going from 70 to -312 in a few seconds. Well the metal felt the same way. Our chamber cost 40K has two computers that control both the cryo and the tempering of the process. Total cycle time from loading the parts to removing them takes about 20 hours. It takes about 12 hours just to go from room temperature to -312 degrees it then cycles, soaks and then slowly comes back up to room temp. This helps to avoid shocking the material.
The cost can vary from processor to processor but expect to pay about 1.00 for inserts and about 2-5.00 for tools depending on the size. We use ours primarily for internal processing of laser sintered inserts we use in a our injection mold tooling, leader pins, bushings, sprues, ejector pins and the like all go through the process. But we also process for outside customers as well, tooling, punch dies just about anything you can think of we have processed.
We actually have a wireless web cam in the cryo/rapid proto type room. Streams real time images through the website.
http://www.cpmfastools.com/c/108/webcams
If you look straight down you will see the set-up.
Steve